Weekly forex forecast: NZD and EUR scored as best shorts [Video]

John Fortune Get Me Trading

Forex pairs & markets covered in this week’s Weekly Forex Forecast & Forex Analysis:

USD (DXY), EUR, GBP, CHF, JPY, CAD, AUD & NZD.

EURUSD, EURJPY, GBPUSD, AUDUSD, NZDUSD, NZDCHF, NZDJPY, Crude Oil (WTI), CADJPY, AUDJPY, GBPCHF, GBPJPY, EURCHF, SPX (S&P 500), Russell 2000, Nasdaq, Dow Jones, Nifty, XAUUSD (Gold Analysis), XAGUSD (Silver Analysis), BTCUSD (Bitcoin Analysis) & more!

Weekly notes

Forex markets continue to be dictated by the recent surge in the DXY with commodity currencies continuing to be exposed to the downside due to DXY strength.

This week the New Zealand Dollar stands out as the best short opportunity with the Euro coming in second place as the second-best shorting opportunity this week.

On the strong side the DXY remains in good shape however may be due a short pullback first before further advances.

The Swiss Franc and Japanese Yen also show signs of strength coming into this week with the overall Forex complex pointing towards Deflation, as safe-haven currencies score well and commodity currencies score badly this week.

This points to the risk of further downside in Stocks this week as traders are set to continue to unwind some of their risk, even as fears subside over the new "Omicron" variant are likely to subside.

Author

John Fortune

Get Me Trading

John Fortune is a professional trader and Head Analyst at Get Me Trading. John has over a decade worth of experience in the Financial Markets and produces a Weekly Forex Forecast covering over 30 markets each weekend.

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GBP/USD: US-Iran reaches deal supporting advance beyond 20-day EMA

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President Trump announced that the deal with Iran is complete

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